Actavis expands presence in Russia Skip to content

Actavis expands presence in Russia

Iceland based generic pharmaceuticals company Actavis Group announced last Tuesday that it had acquired 51 percent of shares in leading Russian pharmaceutical manufacturer ZiO Zdorovje.

The total commitment by Actavis is EUR 47 million (USD 60 million), of which EUR 23 million (USD 30 million) will be used for creating new products and a platform for increased production and capacity.

“ZiO Zdorovje is recognized internationally as the owner of one of the best manufacturing plants in the Russian market,” Robert Wessman, President and CEO of Actavis Group said in a press release. “This transaction represents an important milestone for Actavis’ expansion in Russia.”

Vladimir Ageev, General Director of ZiO Zdorovje added: “This transaction unites two world class businesses to create a powerful new force in the Russian market. The combination of our local manufacturing expertise with Actavis’ extensive product portfolio will significantly enhance the growth prospects for both businesses.”

ZiO Zdorovje was founded in 2001 and is located in Podolsk, near Moscow. Current capacity is 2 billion tablets and capsules, and 20 million sachets a year. The company has 140 employees.

Russia is one of the fastest growing markets in the generic industry, predicted to have an annual growth rate of 15-17 percent in the next five years. Russia has already become Actavis’ seventh largest market, accounting for about 4 percent of the company’s annual sales.

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